Does Chewy Stock Have 26% Upside to $42?

The quiet period for the recent Chewy (CHWY)  initial public offering has lifted, allowing analysts to issue their ratings and price targets. Overall? A mix of bullish-to-neutral ratings, which made the 3.2% decline to $33.29 in Tuesday’s trading session somewhat surprising.  Of nine initiations, Chewy nabbed four buy-equivalent ratings. Wells Fargo and Bank of America assigned a $40 price target, while J.P. Morgan and UBS assigned a price target of $42, with the latter representing more than 26% upside from current levels. Of course, if we’re going to talk about upside in the headline, it’s…

China CPI Steady At 2.7% On Year In June

Consumer prices in China were up 2.7 percent on year in June, the National Bureau of Statistics said on Wednesday – in line with expectations and unchanged from the May reading. On a monthly basis, consumer prices were down 0.1 percent following the flat reading a month earlier. The bureau also said that producer prices were flat on year in June. That was shy of expectations for an increase of 0.2 percent and down from 0.6 percent in the previous month. For comments and feedback contact: editorial@rttnews.com Economic News What…

Markets Brace for Fed Testimony

Markets Brace for Fed Testimony

Market Moves  U.S. equity markets were mixed and mostly pressured for much of the trading day on Tuesday until a late-day rally pushed the large-cap S&P 500 and small-cap Russell 2000 into slightly positive territory. The same cannot be said for the Dow Jones Industrial Average, which completed its third down day on Tuesday since hitting its new all-time high last week. In contrast to the industrials-focused Dow, the tech-heavy Nasdaq Composite was up modestly for most of the day, rising just under a key double top pattern. Earlier on…

Fund Manager Epstein Charged With Underage Sex Trafficking

Date: 2019-07-08 22:42:52 Jul.08 — Fund manager Jeffrey Epstein is charged with sexually abusing dozens of underage girls according to U.S. prosecutors. The charges, which include sex acts with girls as young as 14, carry a minimum of 10 years in prison if he’s convicted. This is U.S. Attorney Geoffrey Berman speaking at a news conference in Manhattan.

Why OPEC is a relic of the past

A nine-month extension to production cuts Russia’s profile rises Output policy now depends on a triad of the leading producers   The international oil cartel met on July 1 and 2 at its biannual meeting in Vienna, Austria. Before the meeting, the oil minister from the most influential member of OPEC, Saudi Arabia, said that his country would like to see Brent crude oil in a range from $60 to $70 per barrel.  Trades issues that threaten the global economy and the rising tensions in the Middle East are pulling…